alt Hacker NewsI think at this point, the counter argument to private enterprise is "Hey, China did it".
(I am aware that this is a facetious statement, and the main point you are aiming to make is that there are other factors that matter.)
I think at this point, the counter argument to private enterprise is "Hey, China did it".
(I am aware that this is a facetious statement, and the main point you are aiming to make is that there are other factors that matter.)
It’s not a counter-argument for two reasons. First, China doesn’t have voters. The problem with publicly owned utilities specifically is the pressure from voters to lower prices now at the expense of maintenance for the future. Not having voters eliminates that problem. More generally, the lack of voters means that China’s public sector operates completely differently than the public sector in democracies.
Separately, China has been moving more and more of its economy to the private sector for decades, ever since Deng Xiaoping visited Singapore: https://www.fairobserver.com/economics/china-and-its-mentor-....